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Woz on Blockchain

Apple co-founder Steve Wozniak spoke about The Past, Present and Future of Blockchain and Crypto during the Crypto Invest Summit on October 23, 2018.

Steve compared the foundational purpose of blockchain technology to his driving principle in developing the Apple computer. He also likened it to the motivations underlying the distribution of information.

Empowerment.

He said the mission of innovators should be to give people more power to control their lives. He is enthused about the disruptive potential of the blockchain. He likes that blockchain distributes control to participants rather than centralizing control with a few intermediaries.

Strategy

My takeaways from Steve’s talk are that blockchain strategy should consider the following:

Technology improves people’s lives. What is the human need your technology is solving? How does it advance what’s already available?

Make blockchain invisible. The user should not have to think about how the technology uses blockchain. Consumers use the internet everyday without understanding TCP/IP.

Keep it simple. Apple’s design philosophy to “Think Different” focuses on continually simplifying the user experience. Two steps is one step too many. Is a token adding utility, or is it a gimmick?

How will it make money? A great design or idea doesn’t guarantee business success. What are the economics that make the idea sustainable and scalable?

Marketing by design. A good business strategy includes a purpose that inspires users, employees and investors. Do you have a compelling story?